Question 5 (20 marks) Given the following information for Cat Castle Incorporated prepare their statement of cash flows for December 31, 2017 using the indirect method. Also, Explain the process of preparing Indirect Cashflow and specify the differences with respect to ASPE and IFRS standards between Indirect and Direct Cashflow methods. 2017 375 2016" 250 75 85 5 6 80 95 Cash Accounts receivable Interest receivable Inventory Prepaid Expenses Non-current - Note receivable Property, plant and Equipment 48 10 90 125 325 330 Question 2 (20 marks) Record entries for the following transactions for UTF-8 Corp. UTF-8 Corp maintains an Allowance for Uncollectible Accounts a. Sold merchandise on account to Java Ltd., 51,800. b. Sold merchandise on account to Centera, $759. c. Wrote off both the Java Ltd. and the Centera accounts d. Centera unexpectedly paid oft his account in full. Question 5 (20 marks) Given the following information for Cat Castle Incorporated prepare their statement of cash flows for December 31, 2017 using the indirect method. Also, Explain the process of preparing Indirect Cashflow and specify the differences with respect to ASPE and IFRS standards between Indirect and Direct Cashflow methods. 2017 375 2016" 250 75 85 5 6 80 95 Cash Accounts receivable Interest receivable Inventory Prepaid Expenses Non-current - Note receivable Property, plant and Equipment 48 10 90 125 325 330 Question 2 (20 marks) Record entries for the following transactions for UTF-8 Corp. UTF-8 Corp maintains an Allowance for Uncollectible Accounts a. Sold merchandise on account to Java Ltd., 51,800. b. Sold merchandise on account to Centera, $759. c. Wrote off both the Java Ltd. and the Centera accounts d. Centera unexpectedly paid oft his account in full